OCBC Divests from VPBank

Vietnam Prosperity Bank (VPBank)'s only foreign shareholder, the Oversea Chinese Banking Corporation Limited (OCBC), headquartered at 65 Chulia, #09-00 OCBC Centre Singapore 049513, completed the transfer of 85,830,457 shares, accounting for 14.88 percent of VPBank's stake. The shares were taken by individual domestic investors.

 

As the OCBC's ordinary share transfer was conducted on the secondary market, it did not affect VPBank's share capital, financial position, strategic direction and operations. Currently, the Vietnamese bank has total assets of VND119,577 billion, registered capital of VND5,770 billion, and owner's equity of VND7,106 billion. The lender raked in accumulative profits of VND560 billion in the first nine months of 2013. VPBank expects to complete its planned profit of VND1.1 trillion and total assets of VND120 trillion this year, aiming to become one of the top five commercial banks in Vietnam in 2017.

 

VPBank currently has 3,674 individual shareholders holding a 87.86 percent stake, and 35 institutional shareholders with a 12.14 percent stake. The lender does not have foreign shareholders and majority shareholders.